KARO

MKT CAP:$2B

Karooooo Ltd.

Market Cap

$2B

Technology·Software - Application·🇸🇬 Singapore·NASDAQ

Technology·Software App·🇸🇬·NASDAQ

Stock Price

$50.12+$5.45 (+12.20%)

Apr 22, 2026

Company Details

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet man...

CEO

Isaias Jose Calisto

IPO Date

Apr 1, 2021

Website

www.karooooo.com

Key Metrics TTM

Revenue

$295M

+13.5% YoY

Net Income

$58M

EPS (Diluted)

$1.89

Free Cash Flow

$0

Revenue / Share

$9.55

Gross Margin

70.2%

Operating Margin

27.9%

Net Margin

19.7%

FCF Margin

0.0%

P/S

5.3x

P/E

26.8x

Earnings Reports

Q4 2026

May 13, 2026

PENDING

Q3 2026

Jan 20, 2026

$84M+17.8%EPS $0.52

Q4 2025

Jun 9, 2025

$74M+11.8%EPS $0.49

Q3 2025

Jan 14, 2025

$71M+10.5%EPS $0.47

Q2 2025

Oct 15, 2024

$65M+2.7%EPS $0.40

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$40M	$27M	$11M
Q3 22	$46M	$30M	$13M
Q4 22	$44M	$27M	$9M
Q1 23	$49M	$32M	$13M
Q2 23	$54M	$36M	$14M
Q3 23	$55M	$35M	$12M
Q4 23	$58M	$37M	$15M
Q1 24	$63M	$40M	$14M
Q2 24	$64M	$40M	$15M
Q3 24	$65M	$41M	$16M
Q4 24	$66M	$44M	$18M
Q1 25	$65M	$45M	$18M
Q2 25	$65M	$46M	$18M
Q3 25	$71M	$50M	$20M
Q4 25	$74M	$53M	$23M
Q3 26	$84M	$58M	$22M

Valuation

Quarter	P/S	P/E
Q2 22	10.7x	75.1x
Q3 22	9.8x	61.8x
Q4 22	9.4x	57.0x
Q1 23	8.7x	49.2x
Q2 23	8.1x	45.7x
Q3 23	7.7x	46.8x
Q4 23	7.2x	42.3x
Q1 24	6.8x	41.6x
Q2 24	6.5x	40.5x
Q3 24	6.2x	37.5x
Q4 24	6.0x	34.4x
Q1 25	6.0x	32.0x
Q2 25	6.0x	30.9x
Q3 25	5.8x	29.2x
Q4 25	5.6x	27.9x
Q3 26	5.3x	26.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$13M	$0
Q3 22	$20M	$0
Q4 22	$11M	$0
Q1 23	$20M	$0
Q2 23	$15M	$0
Q3 23	$17M	$0
Q4 23	$20M	$0
Q1 24	$22M	$0
Q2 24	$18M	$0
Q3 24	$26M	$0
Q4 24	-$7M	$0
Q1 25	$51M	$34M
Q2 25	$24M	$0
Q3 25	$28M	$0
Q4 25	$13M	$0
Q3 26	$33M	$0

Capital Expenditures

Quarter	CapEx
Q2 22	$13M
Q3 22	$20M
Q4 22	$11M
Q1 23	$20M
Q2 23	$15M
Q3 23	$17M
Q4 23	$20M
Q1 24	$22M
Q2 24	$18M
Q3 24	$26M
Q4 24	$7M
Q1 25	$16M
Q2 25	$24M
Q3 25	$28M
Q4 25	$13M
Q3 26	$33M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+20.5%	+32.6%
Q3 22	+39.0%	+49.8%
Q4 22	+18.4%	+27.8%
Q1 23	+36.5%	+35.9%
Q2 23	+36.3%	+39.9%
Q3 23	+19.0%	+29.4%
Q4 23	+32.0%	+22.7%
Q1 24	+29.5%	+38.0%
Q2 24	+17.5%	+20.1%
Q3 24	+17.2%	+12.3%
Q4 24	+15.0%	+13.1%
Q1 25	+3.0%	-4.0%
Q2 25	+2.7%	-2.1%
Q3 25	+10.5%	+6.9%
Q4 25	+11.8%	+4.8%
Q3 26	+28.5%	+31.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%
Q3 26	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 22	$2M	—	—	$14M
Q3 22	$2M	—	—	$15M
Q4 22	$3M	—	—	$16M
Q1 23	$3M	—	—	$17M
Q2 23	$3M	—	—	$20M
Q3 23	$3M	—	—	$20M
Q4 23	$3M	—	—	$20M
Q1 24	$3M	—	—	$23M
Q2 24	$3M	—	—	$22M
Q3 24	$3M	—	—	$22M
Q4 24	$3M	—	—	$23M
Q1 25	$3M	—	—	$24M
Q2 25	$3M	—	—	$25M
Q3 25	$4M	—	—	$26M
Q4 25	$4M	—	—	$26M
Q3 26	$4M	$19M	$14M	—

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q2 22	20.5%	45.4%	65.9
Q3 22	39.0%	47.7%	86.7
Q4 22	18.4%	38.3%	56.7
Q1 23	36.5%	44.5%	81.0
Q2 23	36.3%	44.5%	80.8
Q3 23	19.0%	36.6%	55.5
Q4 23	32.0%	40.4%	72.4
Q1 24	29.5%	39.8%	69.3
Q2 24	17.5%	40.6%	58.1
Q3 24	17.2%	40.4%	57.5
Q4 24	15.0%	43.6%	58.7
Q1 25	3.0%	46.4%	49.5
Q2 25	2.7%	41.6%	44.3
Q3 25	10.5%	44.0%	54.6
Q4 25	11.8%	41.9%	53.7
Q3 26	28.5%	42.1%	70.6

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$43M	$0	$43M
Q1 23	$51M	$919.4K	$52M
Q2 23	$61M	$0	$61M
Q3 23	$51M	$0	$51M
Q4 23	$58M	$0	$58M
Q1 24	$68M	$0	$68M
Q2 24	$39M	$0	$39M
Q3 24	$46M	$0	$46M
Q4 24	$28M	$0	$28M
Q1 25	$60M	$0	$60M
Q2 25	$43M	$0	$43M
Q3 25	$56M	$0	$56M
Q4 25	$63M	$0	$63M
Q1 26	$66M	$0	$66M
Q2 26	$25M	$0	$25M
Q3 26	$35M	$0	$35M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	31M	0.0%	+43.7%
Q3 22	31M	-0.0%	+43.7%
Q4 22	31M	0.0%	+43.7%
Q1 23	31M	0.0%	-0.0%
Q2 23	31M	0.0%	-0.0%
Q3 23	31M	0.0%	0.0%
Q4 23	31M	0.0%	0.0%
Q1 24	31M	0.0%	0.0%
Q2 24	31M	0.0%	0.0%
Q3 24	31M	0.0%	0.0%
Q4 24	31M	-0.0%	-0.0%
Q1 25	31M	-0.1%	-0.2%
Q2 25	31M	-0.0%	-0.2%
Q3 25	31M	-0.0%	-0.2%
Q4 25	31M	0.0%	-0.2%
Q3 26	31M	-0.0%	-0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$13.2K	3K
Q3 22	$15.4K	3K
Q4 22	$12.5K	4K
Q1 23	$14.0K	4K
Q2 23	$15.4K	4K
Q3 23	$15.7K	4K
Q4 23	$14.3K	4K
Q1 24	$15.7K	4K
Q2 24	$15.7K	4K
Q3 24	$16.0K	4K
Q4 24	$16.4K	4K
Q1 25	$14.9K	4K
Q2 25	$14.9K	4K
Q3 25	$16.3K	4K
Q4 25	$13.0K	6K
Q3 26	$14.7K	6K

Revenue / Employee